Big things are happening in the Polkadot ecosystem as the latest data has confirmed the growing speculation.
Polkadot has emerged as the first chain for development activity in the past 24 hours. With an index value of 344, the network leads competitors like Ethereum, Bitcoin, Solana, and others.
The high development activity is a signal that the blockchain will send out new features in the future.
Source: Santimento
DOT-ting the correct lines
Polkadot is beginning to emerge from June lows somewhat after its latest set of developments.
The network has been eager to flex its muscles despite the ongoing volatility crisis in the cryptocurrency market.
Projects on Polkadot continue to grow according to a recent update. PolkaBridge was recently listed on the Huobi Stock Exchange marking a sharp rise in expansion. Additionally, Polkadot is now available for staking on Binance, which will provide a wide range of exposure to the network.
Recently, the Galaxy Score metric was revealed for Polkadot projects which shows the health, quality and performance of the token. According to this list, Poolz Finance makes its way followed by Ankr, Dock and Mantra DAO.
Source: Insider Polkadot
Polkadot Inside has also released a update on the performance of Bifrost Finance’s Rainbow Boost 3.0.
More than 7900 users have already joined the network with the first 100 having access to 47,000 raindrops.
Additionally, more than 188,000 vKSMs were minted via SLP with over 42,000 (22% of supply) minted during the campaign itself.
A week lasts
Despite ongoing development activity on Polkadot, the token has slipped under the radar with its performance. DOT lost over 19.5% in the last week with just under 5% of value lost in the last day alone.
The token continued to lose face value after the cryptocurrency crash on Aug.19, which saw major cryptocurrencies lose key support levels.
Despite the recent recovery of several assets, the DOT case drags into more red candles. The token was trading at $ 7.04 at press time, according to CoinMarketCap.